Kinbauri Gold Corp.
TSX VENTURE : KNB

Kinbauri Gold Corp.

April 03, 2006 09:53 ET

Kinbauri Gold Corp.: Drilling Confirms Potential of New PGE Discovery at Fiedmont, Quebec

CARP, ONTARIO--(CCNMatthews - April 3, 2006) - Kinbauri Gold Corp ("Kinbauri") (TSX VENTURE:KNB) is pleased to announce receipt of all assays from its recently completed drill program on its Fiedmont PGE property near Val d'Or, Quebec. Short holes (60m each), drilled under four surface showings, confirmed the strength and extent of PGE mineralization recently discovered by local geologists Robert J. Tremblay and Terrence Coyle. Two, and possibly three zones, were identified during this limited drilling campaign. Significant PGE intercepts are as follows:



Diamond Drill Hole KNB06-01 (Tower West Showing);

- 0.95g/t over 1.5m beginning at 5.7m.
- 0.94g/t over 1.5m beginning at 12.7m.
- 0.61g/t over 9.0m beginning at 33.4m and including 0.99g/t over
1.5m.
- 1.21g/t over 8.6m beginning at 44.4m and including 1.76g/t over
2m.
- Previous sampling: grabs, 0.3-4.5g/t; chip samples, 2.3g/t over
4m.

Diamond Drill Hole KNB06-02 (Tower Showing);

- 0.89g/t over 5.5m beginning at 20m and including 1.05g/t over
3.5m.
- Previous sampling: grabs, 0.3-6.7g/t; chip samples, 1.3g/t over
2m.

Diamond Drill Hole KNB06-03 (Windfall Showing);

- 1.51g/t over 1.5m beginning at 15.4m.
- 0.72g/t over 5.9m beginning at 21.4m and including 1.17g/t over
2.4m.
- 1.48g/t over 5m beginning at 48.8m and including 1.69g/t over 1m
and 2.77g/t over 1m.
- Previous sampling: grabs, 0.2-1.1g/t.

Diamond Drill Hole KNB06-04 (Lynx Showing);

- Targeted horizon not encountered.
- Previous sampling: grabs 0.2-5.7g/t; chip samples 5.7g/t over 1
m.


The Pd:Pt ratio at Fiedmont is in the order of 2.7:1. Further details of significant assays for all holes are included in attached Table 1. In spite of being early stage, results received to date are well in line with other known Canadian PGE deposits. Mineralization at Fiedmont appears to be confined to fine grained moderately to strongly silicified mafic/ultramafic rocks containing disseminated chalcopyrite and forming part of a differentiated intrusive complex. Showings, prospected and drilled to date, lie along a magnetically defined horizon with a strike length of over 1,000 metres.

The drill core was split in two using a diamond saw at a secured facility in Val d'Or. One half of the core was submitted to ALS Chemex in Val d'Or where it was dried and crushed to -2mm. One kg was split off and pulverized with better than 85% passing 75 micron. PGEs were assayed by ALS Chemex in Vancouver using a fire assay procedure on 30 grams of sample with an ICP finish. ALS Chemex complies with ISO 9001:2000 and ISO 17025:1999 international standards. In addition to the laboratory controls using replicate samples, blanks and standard samples, Kinbauri has also submitted 10% duplicate pulps for check assays. This program was supervised by Dr. C.F. Gleeson, P. Eng., Kinbauri's VP of Exploration and a qualified person under N.I. 43-101.

This press release was prepared by Dr. V.N. Rampton, P. Eng. in his capacity as a qualified person.

Kinbauri is a junior exploration company, which is presently concentrating its resources on completing a 2100m drill program at Corcoesto, northwestern Spain. It has 9,469,189 common shares issued and outstanding and 10,442,189 fully diluted.

THIS PRESS RELEASE WAS PREPARED BY KINBAURI GOLD CORP. AND THE TSX VENTURE EXCHANGE HAS NEITHER APPROVED OR DISAPPROVED THE CONTENT OF THIS RELEASE.

This press release contains certain forward-looking statements, which are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected. Kinbauri undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.



Table 1. Significant Assays from Fiedmont Drilling (PGEs greater
than 0.3g/t)
---------------------------------------------------------------------
---------------------------------------------------------------------
Drill Hole From To Intercept Pt Pd Pt + Pd g/t
(m) (m) (g/t) (g/t)
---------------------------------------------------------------------
---------------------------------------------------------------------
06-01 0.6 1.7 1.1 0.154 0.490 0.644
06-01 1.7 3.2 1.5 0.150 0.498 0.648
---------------------------------------------------------------------
06-01 5.7 6.4 0.7 0.239 0.742 0.981
06-01 6.4 7.2 0.8 0.248 0.678 0.926
---------------------------------------------------------------------
06-01 12.7 14.2 1.5 0.257 0.681 0.938
---------------------------------------------------------------------
06-01 18.2 19.0 0.8 0.066 0.271 0.337
06-01 19.0 19.7 0.7 0.084 0.240 0.324
---------------------------------------------------------------------
06-01 33.4 34.9 1.5 0.131 0.422 0.553
06-01 34.9 36.4 1.5 0.250 0.742 0.992
06-01 36.4 37.9 1.5 0.163 0.504 0.667
06-01 37.9 39.4 1.5 0.095 0.299 0.394
06-01 39.4 40.4 1.0 0.115 0.352 0.467
06-01 40.4 41.4 1.0 0.132 0.421 0.553
06-01 41.4 42.4 1.0 0.159 0.431 0.590
---------------------------------------------------------------------
06-01 44.4 45.4 1.0 0.578 1.530 2.108
06-01 45.4 46.4 1.0 0.360 1.045 1.405
06-01 46.4 47.4 1.0 0.200 0.533 0.733
06-01 47.4 48.4 1.0 0.192 0.564 0.756
06-01 48.4 49.4 1.0 0.298 0.800 1.098
06-01 49.4 50.1 0.7 0.501 1.300 1.801
06-01 50.1 50.8 0.7 0.336 0.926 1.262
06-01 50.8 51.8 1.0 0.234 0.524 0.758
06.01 51.8 52.3 0.5 0.070 0.172 0.242
06-01 52.3 53.0 0.7 0.508 1.330 1.838
---------------------------------------------------------------------
---------------------------------------------------------------------
06-02 20.0 21.0 1.0 0.133 0.409 0.542
06-02 21.0 22.0 1.0 0.180 0.494 0.674
06-02 22.0 23.0 1.0 0.317 0.801 1.118
06-02 23.0 23.5 0.5 0.274 0.776 1.050
06-02 23.5 24.5 1.0 0.306 0.850 1.156
06-02 24.5 25.5 1.0 0.217 0.670 0.887
06-02 25.5 26.1 0.6 0.144 0.230 0.374
---------------------------------------------------------------------
---------------------------------------------------------------------
06-03 13.4 14.9 0.5 0.130 0.353 0.483
---------------------------------------------------------------------
06-03 15.4 16.9 1.5 0.401 1.105 1.506
---------------------------------------------------------------------
06-03 21.4 22.9 1.5 0.124 0.400 0.524
06-03 22.9 24.4 1.5 0.182 0.535 0.717
06-03 24.4 25.3 0.9 0.552 1.360 1.912
06-03 25.3 26.8 1.5 0.077 0.232 0.309
06-03 26.8 28.3 0.5 0.116 0.250 0.366
---------------------------------------------------------------------
06-03 32.8 33.8 1.0 0.165 0.444 0.609
06-03 33.8 34.8 1.0 0.190 0.514 0.704
06-03 34.8 35.9 1.1 0.204 0.538 0.742
---------------------------------------------------------------------
06-03 48.0 48.8 0.8 0.175 0.270 0.445
06-03 48.8 49.8 1.0 0.372 0.804 1.176
06-03 49.8 50.8 1.0 0.280 0.545 0.825
06-03 50.8 51.8 1.0 0.475 1.210 1.685
06-03 51.8 52.8 1.0 0.279 0.679 0.958
06-03 52.8 53.8 1.0 0.831 1.940 2.771
06-03 53.8 54.8 1.0 0.166 0.396 0.562
06-03 54.8 55.6 0.8 0.284 0.607 0.891
---------------------------------------------------------------------
---------------------------------------------------------------------
06-04 20.6 21.6 1.0 0.166 0.414 0.580
---------------------------------------------------------------------
---------------------------------------------------------------------



Contact Information